B. Riley Lowers The Arena Group (NYSE:AREN) Price Target to $14.00

The Arena Group (NYSE:AREN – Get Rating) had its price objective cut by investment analysts at B. Riley from $19.00 to $14.00 in a research note issued to investors on Friday, The Fly reports. B. Riley’s target price suggests a potential upside of 188.66% from the company’s previous close. B. Riley also issued estimates for The Arena Group’s Q1 2023 earnings at ($1.21) EPS, Q2 2023 earnings at ($0.87) EPS, Q3 2023 earnings at ($0.31) EPS and Q4 2023 earnings at $0.38 EPS.

The Arena Group Trading Down 1.4 %

AREN stock opened at $4.85 on Friday. The stock’s fifty day simple moving average is $8.14 and its two-hundred day simple moving average is $11.02. The Arena Group has a 1-year low of $4.74 and a 1-year high of $16.50. The stock has a market cap of $88.76 million, a P/E ratio of -0.99 and a beta of 0.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of The Arena Group by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,990 shares of the company’s stock valued at $329,000 after purchasing an additional 1,117 shares during the period. UBS Group AG increased its stake in The Arena Group by 74.8% in the 4th quarter. UBS Group AG now owns 3,017 shares of the company’s stock worth $32,000 after acquiring an additional 1,291 shares during the last quarter. Barclays PLC increased its stake in The Arena Group by 548.2% in the 4th quarter. Barclays PLC now owns 3,118 shares of the company’s stock worth $33,000 after acquiring an additional 2,637 shares during the last quarter. Geode Capital Management LLC increased its stake in The Arena Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 204,701 shares of the company’s stock worth $2,171,000 after acquiring an additional 3,337 shares during the last quarter. Finally, American International Group Inc. bought a new position in The Arena Group in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 50.40% of the company’s stock.

The Arena Group Company Profile

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The Arena Group Holdings, Inc, together with its subsidiaries, operates digital media platform the United States and internationally. The company offers the Platform, a proprietary online publishing platform comprising publishing tools, video platforms, social distribution channels, newsletter technology, machine learning content recommendations, notifications, and other technology.